Until when can 100% of the CTS be withdrawn?

Compensation for Time of Service (CTS) is a benefit for workers, consisting of two annual deposits, the amount of which varies depending on the regime in which the company is located. The withdrawal of the CTS is a measure that was carried out to financially help families survive during the COVID-19 pandemic. While the recall was extended, Congress has introduced bills to extend it longer; However, they have not yet been approved, so the deadline is about to expire.

In case you have missed the date, find out in this note until when you can withdraw 100% of your CTS.

Until when can 100% of the CTS be withdrawn?

Through Law 31480, workers were authorized, for the only time and until the December 31, 2023, the withdrawal of the CTS. In accordance with what is stated in this legislative decree, workers can “freely dispose of one hundred percent (100%) of the deposits for compensation for time of service performed in financial entities and that they have accumulated on the date of disposal.”

Although there is a bill to extend its duration until 2025, the legislature ended on December 15 and the opinion approved in the Labor Commission regarding this was not debated, so it is confirmed that the deadline for The withdrawal of 100% of your CTS is December 31.

Which workers do not receive CTS?

Not all workers are entitled to receive CTS. Find out here what they are:

• Workers who work less than four hours a day on average.
• Workers who receive 30% or more of the amount from the rates paid by the public for services.
• Microenterprise workers hired after the company registered with Remype.
• Workers in the agricultural labor regime who have chosen to collect their CTS together with their remuneration (Law No. 30110 and DS No. 005-2021-Midagri).